Denver Colorado Real Estate: Buyers’ Or Sellers’ Market? Months Of Inventory Tells The Story
Is it currently a Buyers’ or a Sellers’ Market?
In general, real estate professionals consider between 5 and 6 months of inventory a normal market. Less than 5 to 6 months of inventory is considered an appreciating market or “sellers” market. Over 6 months is considered a depreciating market or “buyers” market. For example:
Everyone wants to know how long it will take their home to sell. Realtors can help by looking at the months of inventory of homes on the market by price range and area. For example, if 12 homes sold in the $350,000 – $450,000 price range in the previous quarter that means that 4 homes sold per month in that price range (12 homes sold/3 months = 4 homes sold each month). If 8 homes are currently on the market in that area and price range, then we say there are 2 months of inventory of homes for sale using the past trend to forecast. Months of inventory helps to understand what is currently happening in a market segment, by area and price range. Of course not all homes for sale are created equal – each home is unique and has value based on its location and special features. Your Realtor can help you identify the right price for your home based on your goals for selling your home and buying a new one. Months of inventory are listed below for 8 multiple listing areas in Metro Denver. Click to enlarge
Denver Southeast 4th Quarter 2010 Condominium Supply
Filed under: Denver Colorado Real Estate, Denver News & Things of Interest, Home Buying, Home Selling, Market Conditions, Perry & Co. Services | 1 Comment
Tags: Denver, Denver Colorado Real Estate, Denver Real Estate, Home Buying, Home Selling, Perry & Co
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